WILMINGTON, Del., April 26, 2018 (GLOBE NEWSWIRE) -- Art Bacci will lead the wealth business as the new Chief Wealth Officer of WSFS Financial Corporation (NASDAQ:WSFS) and its primary subsidiary, WSFS Bank. WSFS Wealth Management provides a broad array of fiduciary, investment management, and credit and deposit products to clients through six business units. Mr. Bacci will also serve as an Executive Vice President and will join WSFS’ executive leadership team. He succeeds Paul Geraghty who retired earlier this month after seven years with the Company.
Mr. Bacci joins WSFS from Principal Financial Group where he successfully led multiple segments over 15 years. Most recently, he was head of Principal’s Hong Kong business where he spearheaded the acquisition and integration of a pension fund company that doubled Principal’s market share. Previously, Mr. Bacci was President and CEO of Principal Bank, assuming the role in 2007 and successfully guided the bank through the Great Recession. Mr. Bacci first served as CFO of Delaware-based Principal Trust Company and in 2005 became its President and CEO.
“We are excited to welcome Art to the WSFS family,” said WSFS’ Rodger Levenson, Executive Vice President and Chief Operating Officer. “Paul Geraghty helped us build a wealth business that positioned WSFS for future sustained growth and diversified fee income. As we sought to find our next Chief Wealth Officer, we wanted a leader who has the experience and vision to build on WSFS Wealth Management’s successes and who will be a key team member as we work to achieve performance goals. Art is that leader.”
“I look forward to contributing to WSFS’ 186-year history of providing exceptional customer and financial services in the Delaware Valley,” said Mr. Bacci. “I believe in the WSFS mission, We Stand For Service, and throughout my career have always aspired to work for organizations of honesty and integrity. WSFS fits the bill. My wife and I are also thrilled to move back to the Delaware Valley. Our children grew up here, and we look forward to re-engaging with the community.”
WSFS Wealth Management has grown to offer personalized solutions to help clients reach their financial objectives. The wealth business leverages the creativity of its specialists in Christiana Trust, Cypress Capital Management, Powdermill Financial Solutions, West Capital Management, WSFS Wealth Client Management and WSFS Wealth Investments, backed by the strength and security of WSFS. To learn more about WSFS Wealth Management, visit wsfsbank.com/Wealth.
About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally-managed bank and trust company headquartered in Delaware and the Delaware Valley. As of March 31, 2018, WSFS Financial Corporation had $7.0 billion in assets on its balance sheet and $19.1 billion in assets under management and administration. WSFS operates from 77 offices located in Delaware (46), Pennsylvania (29), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management. Other subsidiaries or divisions include Christiana Trust, WSFS Wealth Investments, Cypress Capital Management, LLC, West Capital Management, Powdermill Financial Solutions, Cash Connect®, WSFS Mortgage and Arrow Land Transfer. Serving the Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit wsfsbank.com.
Media Contact: Jimmy A. Hernandez
A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/44f3c34b-9b5d-44c4-ae36-7e77a033fa30
Source: WSFS Financial Corporation